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DealStreetAsia raises funding from Vijay Shekhar Sharma, HT Media and others

dealstreetasia

DealStreetAsia, a digital media platform based in Singapore, has raised an undisclosed amount in its first round of funding from Vijay Shekhar Sharma, founder and CEO of Paytm and Singapore Angel Network (SGAN), with participation from HT Media and other unnamed investors. The company said that it is closing a Series A funding in Q1 2016.

It plans to use the funds for hiring across India and ASEAN (Singapore, Malaysia, Indonesia, Thailand, Vietnam, Philippines and Myanmar) teams, expand to Hong Kong, China, Japan and Australia and work on the launch of its deal analytics and data platform, which will create and mine data for deal engineers across Asian markets. DSA Analytics, the statement said, would focus on building a startup database in the Asian region and track companies which have got seed and series funding.

HT Media is an equity holder in DealStreetAsia and will share content and resources across Singapore and India from Mint and vice versa. With this, the Mint hopes to strengthen its reach. DealStreetAsia launched India India operations in September this year, Myanmar in October and partnered with HT Media’s business publication Mint. Mint also publishes MintAsia in Singapore.

DealStreetAsia claims to have published over 4,000 deal related stories in a year of its launch, and says that it publishes over 40 news and analytics stories daily. According to an e27 article, it has 16 employees across India, Singapore, Malaysia, Indonesia, Thailand, Vietnam, Philippines and Myanmar, with plans to add another 10 employees.

Digital media companies which recently expanded to India:

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– Late last month, media company Tech in Asia announced its expansion to India, two years after it started covering the Indian startup scene on its main website. The company has also appointed an initial team of editorial, business development and events staff for operating in India.

– The same month, Mashable launched Mashable India, a local edition of the popular website, in partnership with India.com. The company has a dedicated editorial team based in Mumbai and New Delhi for coverage from India.

– In August, Dubai based media and entertainment company, launched 101India.com, an online youth targeted content portal with videos, photo essays, blogs and listicles

–  In July Motorsport entered the Indian market with a new website, while Franchise India brought Entrepreneur magazine back to India.

–  In May, News Republic launched an India edition of its app.

– Times Internet had partnered with a large number of International publishers, including Gizmodo, Lifehacker, Business Insider, Huffington Post India, Adage, ReadWrite, Remodelista, Techradar, IGN India, AskMen, Pursuitist, among others, to launch local editions.

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Also read: UBM India shuts down its tech media publications: Light Reading, Information Week and others

Disclosure: When it comes to tech news and tech related events, DealStreetAsia may compete with MediaNama.

Written By

I'm a MediaNama alumna from 2015-16 (remember TinyOwl?) now back to cover e-services like food and grocery delivery, app based transport and policies, platforms and media in India.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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